18 January 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--European soda ash 2013 annual contract prices have rolled over, several sources confirmed on Friday.
The European dense soda ash contract price is $270-330/tonne (€203-248/tonne) free on board (FOB) northwest Europe (NWE) (BAGS), while the light soda ash contract is at $280-340/tonne FOB NWE (BAGS). The Black Sea dense soda ash contract price is at $240-272/tonne FOB Black Sea (BL SEA) (BAGS), while the light soda ash contract is at $240-272/tonne FOB BL SEA (BAGS).
There were also some minor increases of about $3-7/tonne, but those were not included in this assessment because the majority of contracts rolled over.
Buyers argued that energy costs in eastern Europe have dropped and demand from the flat glass industry is extremely poor, meaning any price increase targets were unviable as they could not have afforded to pay more than they are paying now.
Producers said the majority of contracts were at a rollover, while smaller accounts have received minor increases.
Demand from the soaps and detergents and container glass industries is much better than from the flat glass sector, sources said.
($1 = €0.75)
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